Envestnet Asset Management Inc. Has $17.68 Million Position in Praxair, Inc. (PX)

Envestnet Asset Management Inc. decreased its holdings in Praxair, Inc. (NYSE:PX) by 6.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 126,504 shares of the basic materials company’s stock after selling 8,447 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Praxair were worth $17,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in shares of Praxair by 19.1% during the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 123 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in shares of Praxair by 149.8% during the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 430 shares during the last quarter. BB&T Investment Services Inc. acquired a new position in shares of Praxair during the second quarter valued at approximately $106,000. Tortoise Investment Management LLC raised its holdings in shares of Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after acquiring an additional 31 shares during the last quarter. Finally, Pacific Center for Financial Services raised its holdings in shares of Praxair by 65.7% during the second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 356 shares during the last quarter. 86.43% of the stock is owned by institutional investors.

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PX has been the subject of a number of research analyst reports. Susquehanna Bancshares raised Praxair from a “neutral” rating to a “positive” rating and increased their target price for the company from $131.00 to $155.00 in a report on Thursday, September 7th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a report on Monday, November 6th. UBS raised Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. Jefferies Group reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a report on Thursday, October 19th. Finally, J P Morgan Chase & Co upped their price target on Praxair from $145.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $154.31.

In related news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

Praxair, Inc. (NYSE:PX) traded down $0.28 during mid-day trading on Wednesday, hitting $153.08. The stock had a trading volume of 1,308,100 shares, compared to its average volume of 1,337,371. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $43,907.78, a price-to-earnings ratio of 26.72, a PEG ratio of 2.29 and a beta of 1.00. Praxair, Inc. has a 1-year low of $115.00 and a 1-year high of $156.40.

Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. equities research analysts forecast that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be given a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.06%. Praxair’s dividend payout ratio (DPR) is presently 56.05%.

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About Praxair

Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.

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